Needham & Company LLC Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $300.00

Flutter Entertainment (NYSE:FLUT) had its price target decreased by Needham & Company LLC from $325.00 to $300.00 in a research report released on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on the company. Stifel Nicolaus lowered their price objective on Flutter Entertainment from $356.00 to $339.00 and set a “buy” rating on the stock in a research report on Monday, October 27th. Citigroup downgraded shares of Flutter Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, November 4th. Bank of America reissued a “neutral” rating and issued a $250.00 price objective (down from $325.00) on shares of Flutter Entertainment in a research note on Tuesday, November 4th. Barclays lifted their target price on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, JMP Securities cut their price target on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Flutter Entertainment has an average rating of “Moderate Buy” and a consensus price target of $319.22.

Flutter Entertainment Stock Down 1.0%

Shares of FLUT stock opened at $198.97 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. Flutter Entertainment has a 12 month low of $193.27 and a 12 month high of $313.68. The stock has a market cap of $35.04 billion, a P/E ratio of 98.01 and a beta of 1.84. The company has a 50 day simple moving average of $253.33 and a two-hundred day simple moving average of $268.45.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $0.77 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the business posted $1.27 EPS. Flutter Entertainment’s revenue was up 16.8% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, research analysts expect that Flutter Entertainment will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has authorized a share repurchase plan on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Flutter Entertainment

In related news, CEO Amy Howe sold 4,097 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total value of $1,253,313.27. Following the transaction, the chief executive officer owned 69,850 shares of the company’s stock, valued at $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the sale, the chief executive officer directly owned 31,944 shares of the company’s stock, valued at approximately $9,341,064.48. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is owned by corporate insiders.

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Partners LLC lifted its stake in shares of Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Barrett & Company Inc. bought a new position in Flutter Entertainment in the second quarter worth about $29,000. JFS Wealth Advisors LLC purchased a new stake in shares of Flutter Entertainment during the third quarter valued at about $27,000. SVB Wealth LLC bought a new stake in shares of Flutter Entertainment in the 1st quarter valued at about $27,000. Finally, JCIC Asset Management Inc. bought a new stake in shares of Flutter Entertainment in the 3rd quarter valued at about $32,000.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.